Tanager Wealth Management LLP Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Tanager Wealth Management LLP purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,072 shares of the company’s stock, valued at approximately $2,686,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Philip Morris International by 0.4% in the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after acquiring an additional 224,840 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after acquiring an additional 621,034 shares during the last quarter. FMR LLC raised its stake in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after acquiring an additional 6,721,094 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Philip Morris International by 3.0% in the third quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after acquiring an additional 376,406 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PM shares. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Barclays cut their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. UBS Group boosted their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Morgan Stanley assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Stock Up 0.0 %

Shares of NYSE:PM opened at $130.42 on Wednesday. The company’s 50 day moving average price is $125.22 and its two-hundred day moving average price is $123.24. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a market cap of $202.78 billion, a PE ratio of 20.70, a PEG ratio of 2.30 and a beta of 0.55.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.14%. Philip Morris International’s payout ratio is presently 85.71%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.